Charity number- 1172919 THE GOWER SOCIETY UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE GOWER SOCIETY CONTENTS Page Reference and Administrative Details of the Charity. its Trustees and Advisers Chairman'5 Statement TrUSts. Rèport 3- 11 Trust•8s' Responsibilities Ststement Independent Examlnerfs Report Stat•m•nt of Flnanclal ActSvltl•$ 12 13 14 Balanc• Sheel 15 Notès to thè Flnanclal St*t•m•nts 16-28
THE GOWER SOCIETY REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrrY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees G ap.Gwenl J E Burgess Dr P J Padley {resigned 20 May 20231 GRHowe R l Bevan-jones T R M Methuen-Campb&ll J V Tucker M E Ridqe V S Batcup Iresw4ne(120 May 20231 J M¢Lellan R Ridge lappoinled 20 M8y 20231 W Davies lappointed 20 May 20231 Charity register•d number 1172919 PrSnclpal offSc• 4 Longlields Belhany Lane West Cross Swansea SA3 SUB Accountants MHA Chartsred Accountsnts MHA Hous8 Charter Court Swansea Enterprise Park Swansea SA7 9FS Page 1
THE GOWER SOCIETY CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023 2023 was an important landmark in The Gower Society's hislory. being the 75th anniversary of ils foundation. Celebrations began 75 years to the day of the Society's first public meeting, when members made a pilgrimage trek to the Founders, Stone on Port Eynon Head., and on the same day our President gave an inspiring lecture in Swansea Museum lthe RISW, our original 'home'l. Reflecting the historical and landscape interests ol our founders, the ScKiety sponsored a historical map of Swansea and Mumbles as well as a members, Iree-planting project. There were other public and private events throughout the year involving every section of the Society, including 8 very 5uc¢esslul s¢h(KJls' art. photography and poety competition. Unfortunately, the results of the competition could not be Shown as planned at the Gower Show bec8us8 adverse weather forced the ¢an¢ellation of the show. All these aclivities are part of our aim of encouraging an awarèness and appreciation of Gower and getting more people caring for and involved in the prolection and enhancement of our natural, historical and buili environment. While the workl returned lo nomalily lor some semblance ol ill. during 2023, Ihe financial world continued lo experience considerablè volalilily. The SIety's finances are not immune from thgse economic factors, but our funds have stwd up well and we have been able to continue to support Gower and the Society s activities as strongly as ever. The Iruslees, role is lo oversee the overall lun¢tKJning of the Society and, particularly. lo manage its finances. This is a role wè tak8 vgry seriousty, having a Chartered A¢counlanl as our Treasurer, lone of three accountant Irusle9s1, an Indepèndenl Financial Adviser and two Investment Portlolio Managers. Other trustBes havè long experience in business or in public service management rdes. In 2023 we began working with our new IFA, considering our overall policy and our investsnenl strategy, one result ol which ha5 been to consolidate some of our mlnor investments into our two major inveslmenl funds. During the year, we revised and updated our Financial Procedures Manual. We wrote and adopted new policies on Health and Safely. Equal Opportunities. Safeguarding and Volunteering. We also began a review of the Society's constitution lo remove some inconsislences, anomalies and omissions. Thes& will be brought lo members for their approval al the AGM in May 2024. At the AGM on 201h May 2023, Peler Padley and Stuart Batcup retired as trustees. Malcolm Ridge was re-elected as Chair and Wyn Davies and Rulh Ridge were elected as trustees for a period of the years. Wyn Davies has long and varièd experi8ncg as a Charity trustee and Ruth Ridge has bg8n active wrth the Sociaty for almost 40 years, as a commrttee member Inearfy half that lime as Hon. Secreiaryl and, amongst other roles, membership secrelary, acting iTeasurer. archivist, edilor and auihor. The Main Committee continues to bg as busy as evgr. Its membgrs come from all parts of Gower. including from Swansea and 'upland Gower,. While a lot of activity is, of necessity, concentrated on the peninsula, thè committee has a regular updaie Irom its Mawr member. and ihe Society has a long history ol supporting the communities of Mawr. Our Folk Dancing group is semi-autonomous, but provides a very popular and valuable Social acliwty for our members, as well as keeping the Gower Reel alive! 75 years is a notsble landmark, but 15 only one more step lo the future. We are confident that we are in a strong sition to continue to cary on our work lor very many mor8 years to Come." and to advan¢0 thg ideas and ideals that were set out for us in 1948 and enshrined in our constitulion. The Gower Society and Gower owe a great debt lo the continuing work, time and effort pul in by the Tru5tee5, the Main Committee, the sub-¢x>mmittees and the many others who are on none of these, but still work diligently wth us. Thank you all. Dh)Ich yn fawr lawn i chi gyd. Malcolm Ridge, Chairman of the B<>ard of Trustees April 2024 Page 2
THE GOWER SOCIETY TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their report with the fin8nci815tstements of the charity for the year ended 31 December 2023. The Irustges have adopted the wovisions of A¢¢ounting and Reporting by Charities". Slatemtrnl of Recommended Pra¢ti¢e applicable to charities preparing Iheir a¢¢ounts in a¢¢ordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Irdand IFRS 1021 (elleclive 1 January 20191. OBJECnVES AND ACTIVITIES Oblo¢tlv$ and aims The Society's objectives are for thè public benèfit. as required by the Charities Acl 2011, and are focussed on the encouragement of an appreciation and love of the Lordship of Gower and the preservation and promotion of its character, traditions. countryside and architecture, as wdl as its amenities. The objectives are set out in lull in Ihtr Conslilulion which is on the Society's websile and for the public btrnefil artr.. lal To promote the preservabon. conservation and enhancement of the physical and natural environment of the area known as Gower by promoting.. The natural beauty of Gower- The preSeN8tn, protgction and develowienl. improvement and carg ol the land. buildings, antiquities, architecture. traditions and featur8s of the hisioric or public interest., High stsnllards of planning in, t¥ affecting, Gower.. The encourag8mgnt of the inhabitanis of Gower and the surrounding arga and the public at larg8 to lake an actsve interest in the enjoyment and protection of Gower arKI its heritage. Ibl To promote and further the study and recording of Gowèrfs antsquiliès, Iradilions, history, geography and natur81 history and lo further Ihe education of the public in SpeCt of Ihg same, and Icl To preserve, prolect and promote righis of way and access lo Gowerfs open spaces. Publle n•11t In compliance wi¢h their duly under seclion 17151 of the Charilies Act 2011, the Trustees have had due regard lo the guidance published by Ihe Charity Commission regarding Publ benefit and they and the Society are ever Tnindful of the legal requirement Ihal its purposes, i.e. its objects, musl be for the public benefit pursuant to thg Act, so that th8 Ptjblic, whether I1. national or intemational. and membgrs and non-members of the Soci8ty b8nèfit 98n8rally. Charitsble acti¥itie5 The Society promotes and protects Gower, n8mely the Lordship of Gower that indudes, but extends beyond, the ar8a that was designated for its natural auty in 1956. In furtheran of its aims, the Society carries oul arKI organises a variety of pursuits ar activities including participating in the work of the Local Aulhorty. restK>nding lo ¢xbnsultalions, scrulini5ing applications for planning parmission lor devèlopmènt, giving finanaal assistsnce to l(Kal ( Community projècts and caus8S, organising outdoor adivities for the young, leading walks, helping to maintain rights of way and pathways, issuing publicalions, organising folk dancing and aangIng talks. all relevant to the Lordship of Gower. Its monthly talks have been revived post-covid and are a Welattended and valuable part of our activities. Page 3
THE GOWER SOCIETY TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 OBJECnVES AND ACTivrriES, continued CommunA¢alions The strategy for the communications team is to capture. cLJmmunicale and spread the word on all that the Society has undertaken and to promote the aims and objectives of Ihe 'Guardian' of this beautiful place. During the year. the events, calendar, photographs and commentaries have been added lo our website. from the launch of the 75th Celebrations on 7th January through to the wonderful lunch al thg King Arthur. as well as the key events and special talks thal culminated in our book launch and the sponsorship of a wonderfully produced and annotated map of Swansea as it was 100 years ago. The design and creation of a new webpa9e for the Green Team section on the main Gower Society website highlights what the team offers. and provides a strong branding,. Ihtr ngw Green Team l¢yJo is displayed on a feather flag at all Green Team events. Our continued association with the Busin8ss StLKlies Student Interns at Swansea University has brought three exceptional students who helped bring our followers on Instagram up to 1,979, with 9,700 hits., and on Facebook, 1,601 followers with 7.300 hf(s in the last three months of the year. This encourages a younger audience lo be in touch with what our Society represents,. il shows more women aged 35-44 On Instagram and aged 45-54 on Facebook. Membership Is also boosted by the ever-changing features displayed on our website., membership is a continual growth area and stands at 1537 aclive members at the time of reporting. In a(idilion to the inlomalion on the website. members receive an attractNo and informative newsletter le8 a yèar and updating emails for tlse who havg agreed to a¢¢epl Ihis fomi of MmunItion. Grenls and projects Throughout is history, the sIety has given grants lo suwx)rt 8 wide range of activities in Gower. With increasgd assets over recgnt years, wg have begn ablg lo give morg and larger grants to organisation$ in Ihg lordship. Projects differ in that they are initiated by Ihe Society, som8times in collaboration with other organisalions. Gower Society Youth has a separale bvdgel for grants lo scho(As. The paymeni of grant and project money is often later, sometimes two lo three years later, than the year in whi¢h il was approved. During 2023, the following paymenls,¢olalling £33,928, We made.. Swansea Canal Sociely for restoration of th8 Clydach lock Mumbles Development Trust for ihe update of PK)siers al Mumbles Railway Blackpill junction Historic Towns Trust for creation of swan and Mum14as 1919 map Tadorna for Little Hill rewilding Dunvant Male Choir for Young Singer of the Year 2022 and 2023 Gower Music Fests'val for produclion ol Ihe programme South Gower Partnership lor community bus Wesl Gower Ploughing for annual ploughing Competilion CCS for repair to damage at Bishops Wood Centre Swansea Philharmonic Choir for production of programmes Oxwich Bird Ringing for annual sur Mawr CCC for Felindre roof survey Gower Walking Festival for urxjating website Penmaen Village Hall for drainage repairs Drystone walling project (with SCC and National Trust Gowerton Cricket Club pavilion project (with the Clubl Grants agreed, but as yet unpaid. amount lo a further £40,000. Page 4
THE GOWER SOCIETY TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 OBJECnVES AND ACTIVITIES, continued Green Team In 2023, the Green Team significantty expanded its initiatives. established intemal structures with a new presence on the website. ils own email wjdress and an event registration portal. It took part in the Big Mumbles Sea Hive painting. It 8rrange¢J for Teifion Davies, the head gardener of Clyne Gardens, lo lead a guidgd lour of the gardgns and hg alsolgd a lungal foray in Clyne Valley WocKls. Additionally, htr facilitatgd an opportunity for the Society and the Green Team to promote Iheir aclivibes dLJring a weekend in May by offering access to a marquee in Clyne Gardens. Joan Darbyshire led Iwo botanical walks in the Port Eynon area and Matt Carroll conducted a 'water and wildlife. tour of the Lliw Reservoir. The team actively participated in th8 City Nature Chall8nge 2023 Swansga. gxploring Mill Wo(Kl with Neil Barry. Displaying a commitment to heritage-skill$' trainiro. Iho Green Team initiated a half-day willow w&aving course organiz8d by Liz Roblin. which was popular wilh parti¢ipants. With plans lo expand the programme, the team aims to provide Valuab skills. training for Gower Society members in the coming yèar. Two dedicated litter-picking champions, Anne Callaway and Maddie Davies, successfully organized six events throughout the year. Beyond collecting over 50 bags of litter, these 8vents setved as opportunities for engaging with the public and promoting awareness aboul the Gower Society. In October, Joan Darbyshire assumed the role of the Green Team's chair, marking a leadership transiti( and ensuring the continuity of the team's development. Planning Firstly we must thank Robin Kirby and Peter Padley who relired from (he committee after considerable years of service. Secondly we welcome four new nMbers.. Chrisline Lloyd, Cody Bates, Michael Craler and Robin P9arson. This brings our aclivg number back up to 9, nol induding our Secretary Sarah Samugl. The main issues in 2023 were lh8 lack of enforcement, arKI even protection of ihe AON8 itself. Regrettably we have used expression5 like 'lhe management ol the Gower AONB is broken.. During the last year we havè hèld meetings with Mark Wade. Director ol Place who has planning and the AONB in his portfolio. Mtrmbers have also held meelings with senior members of the National Associalion of AONBS lo requtssl Ihtrir advice as Io how we go about PtJrsuing cornplaints on such mattèrs. The NAAONB has also raised issuès wrth Julig Jamgs a Local Member of ihe Senedd and currenlly rninister for Clima(e ChaThJe. She is strongly in favour ol 'partnership' model ol rn8n8gemenl of Ihe AONB. so Ihe eyi51ing govemance arrangefflenls are not going lo change. We may have 10 step up our inpul lo the AONB A(Ivisory Cofflmittee. NMONB urge us lo keep trying lo work wf(h CCS. We persist in our efforts but it is difficult, disappointing and lime-consuming. Our weekly check of all planning applications continues and we have reduced the numbers that we actively correspond on, concenlraling on the mosl swJnificant applicalions. In the main the CCS make decisions on routine planning matters that we find reasonable and in accord with the current legislation., it is enforcemenl which is out of kilter in Gower. We h8ve been forced lo lake issue with the CCS decision lo allow housing development on part of Clyne Common (not in the AONB but bordering it) off Cheslnul Avenue, West Cross. We have joined forces with a local action group, The West Cross Resident Association. A Public Inquiry is planned lin 20241 and we hope to win support of the OSS and CPRW. Our daims are that the Common is loo diverse and precious to be obliterated, and that the land offered in rts place 15 not acceptable in eodogical and common terms. An encouraging rècènt d8cision has been made by thè Planning Inspectorate in refijsing a proposal by the CCS to create a new cycle way on the adjacenl comr land. Page 5
THE GOWER SOCIETY TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 OBJECnVES AND ACTIVITIES, continued PublicalAons With regard to the Committee's work over the year, we have hvo major outputs.. Gower Revisited this publication has bn well received and cvrrent sales are in excess of 200 copies. The general view is that Ihis is a quality publication. presented to a very high standard and reflects well on the Society. Gower 74 -the new Publications IJouTnall Committee has managed the production of the Journal for the first lime this year. It was produced on time and we were pleased that It was so well received. With pgrmission from the family, we have also reproducèd an amazin9ty detsiled and annotated map of Ihg ninsula. Created in 1940 by Jim Rees. one of thè original fotlr membèrs ol the Society. Youth Th& aim of Gower Society Youth is lo encourage young people residing in or visiting thè lordship of Gow&r, to understand, appreciate and enhance their natural environment. This being achieved by.. 1. Building up and servicing thg Gowor Society YoLth IGSYI Membership, including= _ Providing 'Gower SrKigty Youth Ould(My Education Acts'vilies, as adV¥sed on tho G¢)wer SocietylGSY W8bsile and social media Producing and dislribuling publicity ar newsletters about the GSY activities programme Keeping online contacts with Gower Society Youth members via Facetx)ok and other social medi8 2. Funding sch¢)ol field trips with Dawn Thomas land transport lo thg field trips in cases ol financial hardshipl. Providing letters to schools lo b8 distributgd to parentslguardians explaining that th8 Gower Soci8ty ha$ provided funding for the field irip Providing and publicising online lee(Iback on soci81 media aboul s¢h¢y)l field trips 3. Awarding granis, up lo £750. to sch(KJls and other tY9anisatsons that are involved with young 0p18. 10 support specific environmental projecis. 4. Field trips.. Schools hav8 been k88n to undertake field trips funded by tha GSY with tha year's funding all allocated by early July. With more applications being made, furKling was realbcated from the transport funding lo allow for another six field days. A lolal 0120 differenl schods took part from all over the Lordship, 5 more than last year, with children's 8ges ranging from Reception to yoar 9. This represents 1500 sluijents, an incrèasg of 3QO stud9nts from 2022. Due to Ihe ngw curriculum fr)r Wal9$. there has bèan a grèater varièty ol topics. This has meanl planning lor field trips has been much more time consuming as every rId trip has to be planned individually with no tsyo field trips being Ihe same. GSY activities are being well aitended with a range of bcations and topics being explored such as Parc le Breos exploring the caves and history. Ilslon valley identifying tree5 in winter. Cefn Bryn fishing for newts, Worms Head working with Gower Seal group lo walch the seals. We also crealed a huge map of Gowèr on Swansea Bay lor the Gower Society 75th anniversary. The families are very appreciative of the opportunity to explore Gower and learn skills and lake part in new and varied activities. S. Project and Transport Grants .' Four sC)01S have applied for project grants so far this year but we are wailing lor some other applic8tK>ns lo be sent in. The project grants were for the development of outdoor learning and wildlife areas and also lo enable the sch(KJs to grow produ and gardens. Seven schools 8pplied for and ceiVed transport grants lo go on field lrips. This report shows the wide variety ol activilies of the Society and the huge commitment of so many volunteers. Page 6
THE GOWER SOCIETY TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 FINANCIAL REVIEW Flnan¢lal po$ltlon The bulk of the Societys income is derived from the funds held with CaZere Capital, Quilter Cheviot, M&G and a 'life' interest in the Phillip Beynon Trust. the latter being created in 1998 and controlled by HSBC. These investments have been chosen lor their potential for both capital growth arid income production. It was pleasing to note thal memtrmship subscriptions it)creased to £17.567, from £16,900 in 2022 and Publication Sales to £9,494 from £6,150. The Society has a far greater number of followers than members. The membership subscription is modesl at £20 a year although a proportion of members have not increased their bank standing order amount from Ihe previous sum despite Ing requested lo do so. Overall income decreased by £25,773 and èxpenditure by £15,221 in linè wilh budgeted expèctations. The Society's main expenditure relates to grant and costs assocK3ted with planning decisions. These activities have both been explained in more details on the previous seclion. The increase in th8 fixed ass81 investments was £57,342. In 2022 the dee&s0 was £294,727. Al the balance Sheet date, the Society h8ld net ass8t$ 01 £3.102.5 of which £2,787.636 w8rg h8ld in long 18rm or medium-lerm investmgnls. Prlnclpal fundlng sources Other than membership Subscriptn$ and retums on the investments held, the sum of £56,946 was received in lfjgacies during 2023. Reserve$ pollcy The Trustees have taken the decision lo maintsin a relatively high level of investments together wllh 8 subslanlial amount in reserve so that Ihe Society can carry out rts primary mission of 'Guarding Gower lor all its worth.. To this end, a specific reserves policy was approved by the main commiitee in 2013 and this outlined strategies for the short, and long lerm in relation to the assets of ihe Soaety. The policy is currently being reviewed by the board ol Trustees following recent presentalmjns by our fund managers, Quilter Cheviot and C8zenovtr Capital. With regard lo the Gorvin Fund, the Board resolved a discrtrle further policy, namtsly Ih81'. '¢apital can b8 applièd to an èxc8ptionalloulstanding rKojeci in furthèrancè of th8 presèrvation, consèrvation and enhancement of the physical and natural environmenl of ihe Lordship of Gower thal is either111 for the acquisition of property in which The (knier Society has a legal interesl or121 is enduring.. The late Mrs Gorvin expressed in her will the wish that the legacy be held for general purtx)ses and her executors have confirmed agrèèmènt with this policy. Funds In deflclt There are no su¢h funds. STRUCTURE. GOVERNANCE AND MANAGEMENT Structure The Society is an in¢orporatgd charity whith had begn rggistsred on thg 9 May 2017 undgr Charity Registered Number 1172919. The unincorporated charity (number 2583721 has remained in existence in order that any legacies left to The Gower SOclY in wills by reference to its old charity number be transferred over from the old to the new charity. This would avoid ihe need for Ihe permission of the Court to apply the legacy for the tEnefit ol the incorporated charity rather than the risk of the gift lapsing or being paid lo some other charty with similar objects. Th8 two charities have fomally b8èn link by the Commission not mèraly by thè samè namè, The Gower Society, but through their objects being identical and the tnjstees of the incortx)rated charity being the truslees of the old charity. Page 7
THE GOWER SOCIETY TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT. continued Gov¥rnan¢• Until the 20 August 2019, the Society was governed and managed by the officers and Main Committee of the old charity, bul during that lime. the Committee and the Board of Trustees of the incorporated charity had approved papers that sel out the matters Seryed for the Board and defined the structure of the Committe8S of the new incorporated ¢harily and their relationship with the Board. Furthtrr to a provision in thg constitution of the incorporated charity, the Board inviled the members of the old Main Committee to be members of the new committee to run the day to day affairs of the Society. They duly aged and In January 2020 the Board formally appointed them as ihe members ol the new Main Committee and approved its terms of reference and thosg of all the sub committees. The govemance of The Society becam8 vested in Ihe Board of Trustees, who had be8n appointed in previous general meetings of the Society. They became resp)nsible for regulats'on and control, appointment of the Main Committee. strategic and budgetary matter5. policies. audit. reporting and monitoring. The offices. namely the Ch8irm8n, two Vice Chairmen, Secretary and Treasurer, as wtrll as the Iruslees. 8r8 appointed by the m8mb8rs in th8 Annual Goneral Meeting. The Secr8lary and Tfeasurgr are remuneratod. The constitution requires there must be at least six irustees, which shall include the officers, and be elected at the Annual General Meeting to a maximum of 12. Treasvrer has declined trusteeship so lo maintain hi5 independence. Al the beginning of the year, the were eleven Iruslees. Three stèpped down al or before the AGM in May 2023 anLI three additional were appointed al the AGM. Managoment The Society is administered and Mana by the nèw main committee in which are vested the sam& responsibilities as under the oliy charity. save lor Ihe said govemance matters. These SponSibl1111es include dealing with grants, considering planning applications and alleged breaches, publications, communicalions and youth activilies through their respective Sub Committees. The minutes of their meetings are considered by the Board and vice versa. The Secrelary ol the Society is also secrelary lo Ihe Comrniltees and is remunerated. The conslilulion qUireS th81 the Committee to which the Trustees may delegate any of their powers or functions must consist of between 10 and 20 pèrsons. Acliv8 Trust88s may also be Committ88 mèmb8rs, however the maxirnum number of aclive Trustees sitting on Ihe Committee is limited lo half of the total number of acts've Trustees. There are currenlly 12 Commitlee members, including 6 Trustees. Page 8
THE GOWER SOCIETY TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 C¢mmltto*$ As explained above, prK)r to Ihe transfer of assets on Ihe 20 August 2019, Ihe governan and management ol the Society was vested in the officers and Main Committee of the old unincorporated charity through which the Society operated. Th8 Main Committee members who have responsibility lor th8 day-to-day manag8monl of the thg Society's activities are.. G ap Gwenl Chairman G Howo Vice Chaiman S Williams Tr8asurer S Samuel Secretary R Callaway Committee member H Evans Committee member T Melhuen-campbtsll Committ88 member J Burggss Committee member M Dobbins Committee member E Harris Committee member J Hellewell Committee member G Morgan Committee member H Roberts Committee member N Barrow Committee member Sub.Commlttee$ The Committee was assisted in ils administrative work by the lollowing Sub-comm&06.. Communications: J Burgess Youth.. C Jones, J Darbyshire, J Hellewell, J Sherrard-smilh, D Thomas Planning-. G Howe, G ap Gwent, M Dobbins. G Davifrs. P Burg9s$. T Mothuen Campbo11, S Samugl. Grants & projects.. G ap Gwenl, G Howe. M Dobbin5, J Hellewell, G Morgan. L Roblin, S Samuel. Publi¢ations'. R Cooper, H Roberts. M ap Gwgnt, A Dulley. S Samuel. P Douglas-Jones, M Ridgg, R Ridgo. J Sh8rrard-Smith. Green Team.. R Callaway, J Burgess, L Roblin. S Samuel. R Ridge. M Ridge, H Roberts, J Darbyshire, J Hellewell, G ap Gwenl, D Th¢)mas Group$ The Committee was also assisted by the following groups.. Mgmbership." H Roberts Website.. J Burgess Programme." S Samuel Ilalksl, A Clarkson Iwalksl, D Thomas {youlhl, G Birt (folk dancing), R Probert (compilation of Programme}. Page 9
THE GOWER SOCIETY TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Board The Board members of the charity havir¥J responsibility for Ihe govemance of ihe affairs of the Society are.. M E Ridge Chairynan G R ap Gwenl Vice Chairman J Btjrgess Vi¢9 Chairman R l Bevan-Jones Trustee R Ridge Trustee G R Howe Trustee T R M Mglhutrn-campbell Trustee W Davies Trustee J V Tucker Trustee J McLellan Trustee Rlsk manag•mtnt The principal risks facgd by Ihfr Socigty lifr in Ihe Fw[man¢e of investmenis and opgrational risks from grant making. The Trustees consider variability ol inveslment returns on its invested capital lit does not hold landl to constitute its major financial risk. This is milvJated by retaining an independeni financ¢al advisor who meets th8 Board every six months. 11 is further mitigated by Ihe two major investment funds. Cazenove Capil81 and Quilter Cheviol, comprising 100% of total inveslments, a px)rtfol¥)s with ranges of assets mana98d by those reputable bodies. The Society's financi81 activities are underlaken in actx)rdance with its Financial Procedures Manual which was implemented in M8rch 2018 and revised in Seplembor 2023. Futur• The strategic plan approved in 2021. recites three core objeciives.. 1. Improving ¢ommunic81ion and un¢Jerstsnding', 2. Involving peoplè in th8 work of thè Society, and 3. Helping to protect Gower so it is safeguarded for present arKI future generations. It explains five areas of f¢xus'. 1. To inv8st in information lechnobgy infrastruciure. digital plallomis and social media.. 2. To gain a better undersianding ol the needs of members; 3. To increase the number of members and lo encourage the younger generation lo join., 4. To work in partnership for the common good of Gower, and 5. To pl8n 5ucce55ion of the Iru5tees. Page 10
THE GOWER SOCIETY TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT. continued Rfjgarding Ihosg argas, there has been some progress". 111 A new website with more modem features has been professionally created arKI the Society is now on Facebwk, Instagram and Twitter., 121 Around one hundred members are active in committe85. sub-committees or in assisting with Swiety a¢tivilies-, 131 The number of mgmbers has increased. The Society succeeded in reaching out to people and on joining are asked "why did you join-. It is hoped the new website, together with its facility for joining online and the Society's presence on digital platforms. will aitract more and younger members: 141 The extsnl of its grants lo the Local Aulhorily for projects, such as rgslored w811ing. foolpalh gates and hedgerows, as well as its representations lo the L31 Plannin9 Authority and participation in planning hearings, is evidence of the SocietWs work in partnership for the common good of Gower,. 151 Additional new members have joined the Main and Flanning Commrttees and three new trustees were appointed. Therefore, there has been progress towards achieving the core objeth'ves sel out in the strategic plan. Apart from incorporation giving truslges protectn from personal liability on bohalf of Ihg Society for any claims, it has resulted in the division of the roles ol governance and management behveen a Board of Trustees and a Main Committee. Therefore, accountability and supervision are more secured and ihe workload now shared. This should also improve recruilmenl, giving the choice in iOMIng a trustee or a committee Momr. 03/05/2024 Approved by order ol the boar(J of Injslees on........................................ . . and Signed on its behatf by.. M E Rldg• Page 11
THE GOWER SOCIETY STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees are responsible for preparing the Trustees. Report and the financial statements in accordance wlh applicable law and United Kingdom Accounting Stsndards (United Kingdom Generalty Accepted Accounting Pra¢li¢el- The law applicable to ChareS in England & Wales requires the Trustees to prepare financial statements lor e8¢h fin8n¢ial year vknich give a true and fair view of the stsle of 8ffairs of the Charity and of its incoming resources and application of resources. including its income and experKlilure. for that period. In preparing these financi81 statements. the Trustees are required lo". select suitsble accounting policies and then apply them consislenlly. observe the methods and principles ol Ihe Charities SORP {FRS 1021.. make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accountin9 Standards IFRS 1021 have followed, subject to any malerfal departures disclosed and explained in the financial statements., prepare th8 financial slalements on the going concem basis unless it is inappropriate lo presume that the Charity wll mntsnue in busingss. The Trustees are responsible for keeping adequaie accounling records that are Sufficient to Show and explain the Charitys transactions and disclose wth reasonable accuracy al any time the financial position of the Charity and enable them lo ensure that Ihe financi81 slalemenls comply wth the Charities Act 2011. the Charity (Accounts and Reports) Regulations 2008 and Ihe provisKJns of the Trust deed. They are also responsible for saf9guarding the assgls ol the Charily and hence lor taking reasonable steps lor the prevention and delects'on of fraud and gth¢r irregularitios. Approved by order of the members of the tx)ard of Twslees and slgned on its behalf by.. E Rldg• Dale. 03/05/2024 Page 12
THE GOWER SOCIETY INDEPENDENT LXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Independent Examinerfs Report to the Trustees of The Gower Society Ilhe Charity'l I report to the charily TnJstees on my examination of the accounts of the Charity for the year ended 31 December 2023. R•spon$lbllltl•s and Bas1$ of Report As the Trustees of the Charity you are resnsIble for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'lhe 2011 Acr). I report in resped of my examinalion of the Charitys a¢counls rried out under sectson 145 of the 2011 Act and in carrying out my examination I have followed ihe applicable Directs'ons given by the Charity Commission under section 14515llbl ol the 2011 Act. Ind•pend•nt Examin•rf8 Stat•m•nt Your attention is drawn lo the fact that the Charity has prepared the accounts in aCrdance with Accounting and Reporting by Charities., Stslement of Recommended Pr8Ctice applic8ble lo charities prep8ring their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic ol Ireland IFRS 1021 in preferenc8 to thè Accounting and Reporting by Charits8s'. Statement of Recommendèd Practice Issu8d on 1 April 2005 whith is ref¢rr¢d lo in the extanl regulabons but has been wthdrawn. l understand Ihal this has been done in ofoer fof Ihe accounts lo prO¥e a true and fair view in accord8nc8 with the Generally Accepted Accounts'ng Practs'ce effecb.ve lor repo.3 periods beginning on or after 1 January 2015. I have completed my examination. I confirm that matters have come lo my attention in connection with the examination giving me cause to believe that in any material respecl.. accounting records were not kepl in resp8c( of the Charity as required by section 130 of the 2011 Act., or the accounly do not accord with those records.. or th8 accounts do not comply with the appIable requirements conceming the form and content of accounts set out in the Charities (Accounts and RepcKisl Regulations 2008 other than any requirement that Ihe accounts give a 'true and lairf view vthich is not a matter considered as part of an independent examination. I have no concems and have come across no oiher matters in conrli0n wth the examinab'on lo which attention should be drawn in this report in order lo enable a proper understanding of the accounis lo be reached. Sign8d: Dated. 03/05/2024 Rachel Doe ACA FCCA DChA MHA MHA House Charter Court Swansea Enterprise Park Swansea SA7 9FS MHA is the trading name of Maclntyre Hudson LLP. a limited liability partnership in England and Wales (registered number OC3123131. P8ge13
THE GOWER SOCIETY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unre5trfcted funds 2023 Total fvnd$ 2023 To181 funds 2022 Note Income from: Donations and legacies Charitable actsvilies Investments 59,395 27.061 100,252 59.395 27.061 100.252 107,720 23,050 87,717 Total Incom• 186,708 1B6,708 272,481 Expendituro on.. Charitable activities: Charitable Activities Supporting costs Other charitable activities 101,253 22,485 4.000 101,253 22.485 4,000 123,969 18,990 Total •xp•ndltur• 127,738 127,738 142,959 Net Incom• b•for• not galnslllos808} on Investm8nl8 Nel gainslllossesl on investments 58,970 57,342 $8.970 57,342 69,522 (294.726) N•t mov•m•nt In funds 116,312 116,312 1225,204) Reconclllatlon of funds- Totsl funds brought forward Nel movement in funds 2,986.278 116,312 2,986,278 116,312 3,21 t,482 (225,204) Total funds carried fonmard 3,102.590 3,102,590 2,986,278 The Statement of Financial A¢tiviti¢s includes all gains and losses recognised in the year. The notes on pages 16 to 28 fom) part of these financial slatements. Page 14
THE GOWER SOCIETY BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Nots Flxod assats Tangible assets Investments 10 505 2,787,636 888 2, 730,294 2,788,141 2, 731, 182 Current assets Stocks Debtors Investments Cash al bank and in hand 12 13 14 3.722 20.230 13.356 323.824 3,652 20,387 13,348 284.068 361.132 321,455 Creditors.. amounts falling due within on8 year 15 146.683) (66.359) Net curr•nt 8$86t• 314,449 255,096 Total ass•ts 1088 current Ilabllltl8s 3,102,590 2,986,278 Not a$$ots •x¢ludlng nSIOn ass•t 3,102,590 2,986,278 Total net assets 3,102,590 2,986,278 Charlty funds Reslricled funds Unreslri¢ted funds 16 16 3,102,590 2,986,278 Total funds 3,102,590 2,986,278 Thè financial statements were approved and aulh)rised for issue by the Tnjstees and signed on their behalf by.. Trustee Dale. 03/05/2024 The notes on pages 16 10 28 fomi part of these financial slatements. P8ge15
THE GOWER SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies 1.1 Ba$1$ ¢f pr•par*lon of flnan¢lal $tstoments The financial slatements of Ihe charity, which is a public benefrt entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo Gharilies preparing their accounts in accordance th the Financial Reporting Stsndard applicable in the UK and Republie of Ireland IFRS 1021 leffeclive 1 J8nu8ry 20191.. Financial Reports"rwJ Standard 102 'The Financial Reporting Standard appli¢able in the UK and Republi¢ of Ireland. and the Charities Act 2011. The finan¢ial statements have been prepad under the historical cosl convention, with the exception of investments which ar8 included at market value, as modified by the revaluation of certain assets. The fin8nci81 ststements have been prepared to give 8 'true and fairf view an¢J h8ve departed from the Chants'es IA¢c(xJnls ar Reports) Regulatsons 2008 only lo the extent r8quired lo provide a 'lru8 and fair. view. This departure has involved lollowing the Charities SORP IFRS 1021 published in October 2019 rather than Ihe Accounting and Reporting by Charits'es.. Statement of Recommended Practice effective from 1 April 2(N)5 which has sce been wthdrawn. The presentats'on currency of these financial statements is the Pound Sterling 1£). 1.2 Golng ¢on¢ern The truslees conser Ihat thore are Th) material uncertainlies aboul the charitys ability to continue as a going concern arKI on Ihat basis. the financial statements are prepared on a going concern basis. 1.3 Slgnificant judgements and 08tlrnatO1 In the 8pplicalion of the charitys 8ccounling rKlicies. the Iruslees are required lo make judgements, eslimalgs and assumptsons about the carrying amounts of assets and liabilities that are not readily apparent from oth8r SoUrs. Thè 8stimat8s and associat8d assumptions are based on historical experience and other factors vthich are considered to be relevant. Actual results may differ from these estimates. The eslimales an(J underfy'ng assumptions awe revievd on an ongoing basis. Revisions lo 8ccounting estimates are recognised in the period in which the estimate is revised if the revision only effects that perirxj, or in the period of the revision and future periods if the revision affects both current and future perb)ds. The following are the critical jvdgemenls that the trustees have made in the process of applying the ehanvs 8ceounting poliues and that have the wnosl snIficant effect on the amounts recognistrd in the ffinancial statements. Im aimient of assets Asseis are assessed for indicalors of impairmenl at each balance sheet date. If there is objective evidence of impairment, an impaimient loss is recognised in the Stalement of Financial Activities. The carrying value of st¢xk at the year end is net of st(tk provi8N)ns of £15.401 12022.. £15,830). Provisions and contin encies Provisions are recognised when the charity has a present obligation as a result of a past evenl and a reliable estimate can be made of a probable adverse outcome. Othemse, material conlingenl liabilities are disclosed unless a transfer of economic benefits is considered remote. Contingent assets are only disclosed rf an infknv of economic benefits Is probable. Page 16
THE GOWER SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Icontinuedl 1.4 Incomè All income i8 recognised once the Charity has enliuemenl to the income. f( Is probable that the incorne will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependenl on estsblishing trntillemenl, the probability of rec8ipt and the ability to ests'mate with suificient accuracy thè amount recèivablè. Evidènce of entitlement to a legacy exisis when the Charity has sufficient evidence that a gift has been left to them Ithrough knowledge of the existence of a valMI wll and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy musl be reccxJnised when il is probable that il will be received and the fair value of the amount receivable, which will gener811y be the expected cash amount to be distributed lo the Charity, Can be reliably mgasured. Grfts in kind are recognised in the Statement of Financial Activities on distribution with an equivalent amount being included as resources expended to reflect ils distribubon. Grfts in kind are valued based on the amount realised on sale. Membership fees are recc¥Jnised on a received basis. Interest on funds held on deposil is includ8d vthen receivable and the amount can b8 measured reliably by the charity,. this is normally upon notificatson of the interest paid or payable by the bank. Investment income is recognised when reCeiVae and is included in the financial statements net of investment management fees, which are deducted at source. 1.5 Expendlture Expenditure is recognised once ihere is a legal or construcb've obligation to transfer economic benefit to a Ihird party, it is probable thal a Iransfer of economic benefits wll be required in settlement and the amount of the obligation can be measured rdiably. Expenditure is classified by activity. The costs of each activity are made up of the lolal of direct costs and shared costs, including support costs invofved in undertsking each 8Ctiwty. Direct costs attributsble lo 8 single activity are allocated directly to that a¢tivity. sha costs which conlribule to more than one activity and support costs which are not attributsble to a single a¢tivity are apportKJned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on ihe basis of time spent, and depreciation charges allocated on the On of the asset's use. Expenditure on ¢hartsble 8¢tivilies is incurred on dire¢Uy undertaking the activities which further the Charitys objectives, as well as any associated SUprt costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the condilions attaching are fuilled. Grants offered subject to condilions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. 1.6 C¢$t$ of rai$ing fund$ The costs of generaling funds consist of investmenl management costs and certain legal fees. 1.7 Charitable activities Costs of ch8ritable acliwbes include grants made and governan costs. Page 17
THE GOWER SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Icontinuedl 1.8 Gov•manc• costs Govemance costs comprise all costs invofving the public accountability of the charity and ils compliance with regulation arhd good practice. These costs included costs relating to examination fees. tre8surer costs and legal fees. 1.9 Tanglblè fix¢d ass•ts and dèpr•clatlon Tangible fixed assets cosling £100 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the assel can be measured reliably. Tangible fixed assets a initially recc#Jnised al cost. After recognition, under the cost model, tsnglble fixed assets are measured al cost less accumulated deprlation and any a¢cumulated impairment losses. Ml costs incurred to bring a tangib fixed ass8t into its intended working condition should b8 included in the measurement of cost. Depreciation is charged so as lo allctats th6 cost of tangible fix8d assets lèss thair residual value ovèr their èslimaled uselul lives. Depreciabon is providetl on Ihe lo110vng basis: Plant and machinery Fixtures and fittings 25% Straight line 25% Siraighl line 1.10 InY¢stm¢nt8 Fixed ass81 investments ar8 a forni of financial instrument and are initially r8cognis8d al their transaction cost and subsequently measured at lair value at the Balance Sheet date, unless the valuo cannot be measured reliably in which case rt is measured at cost less impaimient. Investment gains and losses, whelher realised or unrealised, are combined and presented as 'GainsllLossesl on investments, in the Slalemenl of Financi81 ActilIeS. 1.11 Sto¢k$ Stocks are valued at the I0r of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. 1.12 Taxation The charity is exempt from tax on rts charilablg a¢b"vib"8s. Irr8¢ov8rable VAT is charged against the expenditure heading for vthich it was incurred. Page 18
THE GOWER SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Icontinuedl 1.13 Cash at bank and currènt asset inv8stm•nts Cash al bank and in hand is held lo meet short-lerm cash commrtmen15 a5 they fall due and includes all cash equiv8len15 held In the form of short-term highly liquid inv851TNenls. Cash equivalents are short-lerTn, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an in5ignififjanl risk of changes in value. A Gash eqvivalenl will nomally h8ve 8 short maturity of, say. three months ¢y less from the date ol acqulslts'¢. Current asset investments are investments which a charity holds for resale or pending their sale and cash or cash equivalents with a maturity date of less than one year. This heading includes cash on dep0511 and cash equivalents with a malurity ol less than one year hèld for inve51rnenl purposes rather than to meet short-tem cash cc¥nmitrnenls as they fall due. 1.14 LSabilitl•8 and provislons Liabilib'es are recognised when Ihere is an obligation at Ihe Balance Sheet date as a result of a past event, il is probable Ihal a Iransler of economic benefrt will be required in settlement, and the amount of the settlement can eslimaled reliably. Liabilitses are reccgnised at the amounl thal the Charity 8nticipal8s it will pay lo s8tUe the debt or the amount it has r8ceiv8d as advanced payTh8nts for the go(MJs or s8Mces It must provid8. Provisions are measured at Ihe b8sI estimate ol the amounts required to seitle the Oblall0. Where the effeel ol the lime value of money is malerial. the provision is based on the present value ol those amounts, discounted al the pre-18x ¢Jiscwnl rale that reflecls the risks specific lo the liability, The unwnding of the discount is reCnised in the Statement of Financial Activities as a finance cost. 1.15 Fln•nclal Instruments The charity only has financial assets arKI liabilibes ol a kind that qualify as basic financial instruments. Basic financial instruments are inilially recorded al transaction value and subsequently measured at their fair value. Changes in fair value are recognised in the statement of financial activities, nel of investment managemenl fees. 1.16 Fund accountlng General funds are unre51ricted fund5 vthich are available for use al the discretion of the Trustees in furtherance of the general obJ"eclives of the Chanty and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set oul in the notes to the financial statemenis. Reslricled funds are funds which are to use(1 in accordance with 5pecrfic restrictions Imposed by donors or which have beÈn raised by the Charity for parbcular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted ftjnd is set out in the notes to the financial statements. Investment income. gains and losses are allocated to the appropriate fund. Page 19
THE GOWER SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Icontinuedl 1.17 Donated goads and s•rvic8s Donated goods or services or facilities are recognised as income and expenditure when the benefit lo the chanty can be reasonably quanb"ffied or me8sured and is consKler materi81 to the charity. 1.18 Phlllp Boynon Trust In¢om? The charity is a beneficiary under the above tnjsl. It IS 8ntilJed to receive one half of the income from the Trust in perpetuity given in memory of Henry and Gertnjde Pine 8eynon. However it has no power to direct the investment of the Trust assets vthich are vested in HSBC Trust Company IUKI Limited. Incom8 from donations and 18gaeS•8 Unrestrlcted funds 2023 Total funds 2023 Donations Legacies SimiLgr incoming resources 1.269 56.946 1,180 1,269 56,946 1,180 59,395 59,395 Unreslricled funds 2022 Total funds 2022 Donations 220 220 Legacies 701.500 101.500 101,720 101,720 Page 20
THE GOWER SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Incom8 from charitable actlvStSes Unre$trl¢t•d funds 2023 Total funds 2023 Member subscriptions Publications 17.567 9,494 17,567 9,494 27.061 27,061 Unrestricted funds 2022 Total funds 2022 Member subscriptions Publication8 16,900 6, 150 76,900 6, 150 23,050 23,050 Inv•8tm•nt Incom• Unrestricted fund$ 2023 T¢)tal fund$ 2023 Income from investments 100,252 100,252 un$1Cted funds 2022 To181 funds 2022 Income from investrnents 87,711 87,711 Page 21
THE GOWER SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysls of expendltur8 on charltabla activltles Summary by fund type Unr•strlctèd funds 2023 Total 2023 Charitable activity exwndilure 127,738 127,738 Unrestri¢tgd lunds 2022 Total 2022 Charitsble acbvity exndItUre 142,959 142,959 Analy8ls of expendltur• by actlvltl•s A¢tlvtliès ynd¢rtakèn directly 2023 Support ¢ost$ 2023 Totsl fund$ 2023 Charitable activity eXndItUre 105.253 22,485 127,738 Actwiti8s undertaken directly 2022 Support costs 2022 Total funds 2022 Charitsblg ath'vity eXnlture 123,970 18,989 142,959 Page 22
THE GOWER SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysls of expendltur8 by actlvltles {contlnued} Analysis ot direct costs Total funds 2023 Total funds 2022 Grants Depreciation Subscriptions Publications 50,116 382 81,834 382 477 12,349 280 73,346 ¥ li Advertising Gowgr show expenses Rent 354 2,762 960 4,636 11,023 14,941 7,253 2,816 3,578 1,370 7,543 2,076 4,288 6,457 Insurance Planning pemission consultsncy cosls Postage and stati'onary Sundries 105,253 123,970 Analy81s of Support ¢08ts Total funds 2023 Total funds 2022 Bank charges Secretary's fees Treasurer fees Independent Examinerfs fees 209 269 7,596 11,200 3,480 9,600 3,120 22,485 18,989 Page 23
THE GOWER SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Trusts8s' ramuneratlon and exp8ns8s The trustees all give freely their time and expertise wthout any form of remuneration or other benefit in cash or kind12022 £nill. DLJring the year, the truslees received £970 in respect of reimbursed travel and office costs incurred on behalf of the charity12022 £9781. The number of inJstees vkno daimed expenses in the year was 4 12022- 31. Volunt••rs The value of vdunteers. tsme given wthin the year is 8Stimated with reference to the recorded number of volunteer hours multiplied by the estimated hourly rate that an employee would have been paid for Carrr@ out the service. The quantified benefit to the charity for volunteers. time was in the region of £33.75012022 - £33,750). given that an estsmaled 4.50012022 - 4,5001 hours were estimated as being spent. This amount has not been recognised in the accounts. Grants payabl• During the year the charty awarded grants to the followr¥J typ8s of organisation all of which are based or operate in Gower. 2023 2022 Schools Churchès and parishes Other societies and group$ Miscellaneous 6,431 4,000 32,684 7,001 4,739 133 64,fj88 72,274 50,116 81,834 10. Tanglblo flxéd a$sets Plant and Flxtures and machinery fittings Total Cost or valuation Al 1 January 2023 457 8.122 8,579 At 31 December 2023 457 8.122 8,579 Page 24
THE GOWER SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 10. Tanglble flxad assets Icontlnu8d) Plant and Fixtures and machinery fittings Total Depreciation Al 1 January 2023 Charge for the year 114 114 7.578 268 7,692 382 At 31 Dember 2023 228 7,846 8,074 Not book valuo Al 31 December 2023 229 276 505 At 37 December 2022 343 544 887 11. Flxed ass•t Investmonts L5stèd Investmont8 Cost or valuatlon At 1 January 2023 Additions 2.730,294 392,380 1392,3801 57,342 Disposals Rgvalualions Al 31 December 2023 2,787,636 Not book valuo Al 31 December 2023 2.787,636 At 31 December 2022 2, 730,294 Page 25
THE GOWER SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2023 2022 2022 Cost Fair value Cost Fair v8lu& M & G Charifund 136.842 219,925 Cazenove capital - John Henry Gorwn Fund 1.347,500 1,372,609 Fundsmith Equity Account 54.500 96,840 Lindsell Train Global Equity 54.500 87,146 Quilter Cheviot portfolio 946,190 992.881 750.000 772,713 Quilter Cheviol- John Henry Gorvin Fund QL2 2 691 039 2 787 636 2 544 501 2 730 295 1,543.690 1,606.975 l investments are carried at iheiT fair value. Investment in equities and fixed interest securities are all traded in either quoied public markets. primarily the London Stock Exchange, or are otherwise held in assets in actively traded markets. Holdings in common investment funds. unil trusts and open-ended Investment companies are al th8 bid pnce. The basis of lair valve lor investments Is equiv8lenl lo the market value, using the bid price. Assel sales and purchases are fecognised al Ihe dale of trade al cost Ilhal is their transaction value). The change in the value of lisled investments is net of any costs of that investmant. 12, Stocks 2023 2022 Stocks 3,722 3,652 13. Debtors 2023 2022 Du¢ wlthln One y•or Trade debtors 18 146 Other debtors 17,261 2,951 16,380 3,861 PrepayThenls and accrued income 20,230 20,387 14. Current asset investments 2023 2022 Cash on d8POSIt 13,356 13.348 Page 26
THE GOWER SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Cr8dltors: Amounts falllng due wlthln on• year 2023 2022 Trade creditors Other creditors Accrua15 and grants payable 36 275 3,106 43,541 4,284 67,800 46,683 66,359 Accruals and grants payable indude grants payable of £28.281 12022.. £51.4971. 16. Stat•mtnt ol fundi Stat¢m•nt of funds . currnnt y¢ar Balan¢0 at 31 Galnsl December ILosse81 2023 8alanc• at 1 January 2023 Income Expèndltur• Unr8Strlct•d funds General Fund In memory of Dr J H Gorvln 1,318,539 1,667.739 146,356 40.352 1127,7381 44,894 12,448 1.382,051 1.720,539 2,986,278 186,708 1127,7381 57,342 3,102,590 Statom•nt of funds - prlor y•ar Balance 81 31 Decèmber 2022 8818n¢e 91 l January 2022 Gain fLosses) Income Expendrfu Unrestricted funds Ggngral Fund In memory of Dr J H Gorvin 1,456.943 1.754,539 168,473 (142,958) (163,9Y9) (130,808) 1,318,539 1,667, 739 3.211,482 212,481 {142,958) (294,727) 2,986,278 Page 27
THE GOWER SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 17. Related party transactions During the year, the charity incurred £11.200 12022 - £9.600) in relation to serw¢es provKl&d by the Treasurer. Page 28